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English definition of “cyberfraud”

cyberfraud

noun [U]     /ˈsaɪbəˌfrɔːd/ INTERNET, LAW
a situation in which someone uses the internet to get money, goods, etc. from people illegally by tricking them: Not only does cyberfraud inflict losses on the cardholders, but also the merchants, merchants' banks, and card issuers.
(Definition of cyberfraud noun from the Cambridge Business English Dictionary © Cambridge University Press)
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